Carson Yeung, the new owner of Birmingham City, has promised up to £80 million for transfers in his first 12 months at the club.

The Hong Kong-based businessman pledged £40 million in January, with another injection of the same amount, perhaps more, come summer if City retain their place in the Premier League.

"Forty million in the January transfer window is my commitment to Birmingham fans," he said on Thursday, before adding that "there will be more than an additional £40 million in the summer".

Before the Birmingham fans pop the corks, however, it is worth noting that the levels of investment discussed by Yeung seemed to come as news to some of his associates. Given the prevailing concern over foreign owners, supporters would be well within their rights to lack confidence.

The new board was uncomfortable discussing the details of its finances, beyond Yeung's vague explanation that buying the Birmingham shares for 60p over their true value demonstrated his financial muscle, and an oath that he "won't let the fans down".

However, they did stress the funds for January were in place via Yeung's interests in "energy, water, and various enterprises in China".

It was less clear where the investment in the summer will come from, although Yeung and his chairman, Vico Hui, have identified the success of the NBA in China – which generates as much as $2.3 billion per annum according to some sources – as their model for success. "China is a very big market," Yeung said. "We can bring Birmingham to China."

A stellar signing would help, prompting a question about whether David Beckham is a target. Yeung laughed at that one, before delivering the killer line: "I'm looking for not one, but I want a few popular stars."

Alex McLeish, the Birmingham manager, clearly hasn't got the memo, and he sought to prevent expectations from sky-rocketing. "I'm not going to be looking for players like Adebayor," he said. "Lets keep our feet on the ground."

McLeish has assurances that the final say in transfers is his, but he will be anxious about the role played by Sammy Yu, the vice-chairman football and self-styled "football man", who claims to have brought 150 English footballers to Hong Kong in the 1980s and 1990s.

Yu has already taken receipt of a City tracksuit and got involved in a practice session. "Looking at the coaching and training staff," Yu said, "I can give [McLeish] a hand."

Grounds for concern, surely, particularly as even Yeung comes with a reputation for wielding power in the dressing room.

During the third game of the 2006-07 season, against the Hong Kong side Happy Valley, the then chairman of Hong Kong Rangers and his associates used mobile phones to contact the bench after Agbo Fofo, the Ghanaian midfielder, had been sent off. Manager Tim Bredbury was sacked soon afterwards.

Foremost among the questions now asked will be to what extent can the new board's promises be trusted? David Gold, the former chairman guaranteed "an ongoing capacity as chairman" in the offer document to shareholders, would surely have a view. He was not given the role.